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Former Khulubuse Zuma business associate found in contempt of court

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ikhumbuzo Shamase, one-time business associate of Khulubuse Zuma, the nephew of former president Jacob Zuma, has been found in contempt of court for failing to hand over two vehicles after Standard Bank obtained summary judgment in 2017. Moneyweb

Sikhumbuzo Shamase, one-time business associate of Khulubuse Zuma, the nephew of former president Jacob Zuma, has been found in contempt of court for failing to hand over two vehicles after Standard Bank obtained summary judgment in 2017. The two were partners in a company called Sham-Mok Investments that got suckered out of R50 million in 2013 when buying gold bars in Guinea that turned out to be fake.

On 24 June 2022, Standard Bank launched contempt of court proceedings against the Shamases, who indicated their intention to oppose the matter. The following month the Glenvista property was sold for R2.85 million, which went to settle a home loan of R3.4 million. Answering affidavit In October 2022, the Shamases filed an answering affidavit in the contempt case and a recission of the previous order won by the bank in the Pretoria High Court.

 

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